Services for
Non-Profits
Non-profits have their own unique financial hurdles—such as bookkeeping, cash flow forecasting, grant tracking, and the preparation of Tax Form 990. But first and foremost, they need access to accurate financial reports and expert guidance in order to focus on what is truly important—their mission.
Preparation of Tax Form 990
The IRS uses Form 990 as a tool to monitor federal tax law compliance from tax-exempt organizations. As a public document, it is available for regulators and the public to review. Donors, grant recipients, media, and anyone interested in the non-profit can use the 990 to evaluate the organization's performance.
Form 990 applies to most tax-exempt organizations under Section 501(a):
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Tax-exempt organizations, non-profits, and not-for-profits
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Section 501(c)(3) charities
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Non-exempt charitable trusts
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Section 527 political organizations
Why Does Quality Matter?
There are up to 16 schedules that could be required when completing the 990, such as the makeup of the organization's Board of Directors, the compensation habits, transactions with entity insiders, and disclosure of policies and practices.
Form 990 requires comprehensive financial information and details including the organization's governance policies, documentation of procedures, relationships with leadership, and associations with third parties. Due to the scope of information, there is significant potential for providing incomplete or incorrect information. Federal law permits the IRS to assess penalties on the organization and its leadership for filing an incorrect 990.
Our Role
Our accounting team is practiced in preparing Form 990s for non-profits. After meeting with management, we present the 990 on behalf of the organization and the Board of Directors. Our staff reviews the 990 in a quality check, comparing it again to the financials.
Additional reviews are conducted to look for any indicators that could lead to increased government scrutiny and to reconcile any repeating information. Multiple reviews reduce the potential for an IRS audit.
